Examlex
Which of the following most affects the distribution of the opportunities and rewards that shape the patterns of inequality in Canada?
Pure Monopolist
A market structure where a single seller controls the entire market supply of a product or service with no close substitutes, allowing them to set prices.
Monopoly Price
The price set by a monopoly, typically higher than in competitive markets, due to the absence of competition.
Economic Profits
Profits exceeding the opportunity costs of all resources used, indicating a return above the normal competition level.
Marginal Revenue
The additional income earned by producing and selling one more unit of a product.
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